The Karnataka Bank Limited has informed the Exchange regarding Resignation of Mr D S Ravindran as Non- Executive Independent Director of the Bank w.e.f. March 06, 2026.
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Dr. D.S. Ravindran, Non-Executive Independent Director of Karnataka Bank, resigned with effect from 9:00 PM on March 6, 2026. In his resignation letter, he stated that the Board had renominated him for a second term, but the resolution did not receive shareholder approval, prompting him to step down on moral grounds. He was Chairman of the IT Strategy Committee and a member of the Audit Committee, Stakeholders and Customer Relations Committee, and CSR Committee, leaving these committees with vacancies. The bank will now need to fill the independent director position and reconstitute the affected board committees. No other material reasons were cited for the resignation.
This is a negative governance signal — shareholders actively rejected the Board's renomination choice, which is unusual and may dent investor confidence in board oversight. The loss of a sitting Audit Committee member and IT Strategy Committee Chairman could also create short-term operational and compliance gaps for the bank.